Experian blends NeuroID behavioral analytics into fraud prevention solutions
Reinforcements are coming on the fraud-fighting front.
Experian on Tuesday announced NeuroID’s behavioral analytics is now available through Experian’s fraud prevention solutions, including CrossCore and Precise ID.
Experian highlighted NeuroID’s unique behavioral analytics solution can provide robust, frictionless fraud prevention capabilities that can effectively combat identity theft, deter fraud ring attacks and protect against artificial intelligence-enabled bots while ensuring a smoother experience for real customers.
Experian acknowledged managing identity verification and fraud detection can be challenging for many businesses.
In fact, a recent Experian report found nearly 70% of businesses say fraud losses have increased in recent years.
In addition, experts pointed out that fraud rings and AI-enabled bot attacks have elusive attack patterns that are often hard to detect without in-depth insights.
A recent report from NeuroID showed that over a four-month period, 53% of NeuroID customers had an attempted bot attack.
Now with NeuroID integrated, Experian clients can use one service provider to seamlessly deploy fraud detection that helps identify user intentions through robust data-driven insights.
NeuroID analyzes users’ real-time behavior, such as keystrokes, mouse movements and typing speed, to determine if there’s genuine or fraudulent intention.
This approach can capture the underlying behavior patterns of fraud rings, bots and other bad actors to identify warning signs before they strike. It also can enhance the user experience by helping streamline onboarding.
Experian mentioned NeuroID’s capabilities complement the CrossCore identity verification and fraud risk platform’s suite of diverse functional offerings by providing an additional layer of prediction and insight into behaviors displayed during online applications.
CrossCore can help clients verify identities and prevent various fraud losses by orchestrating a layered defense approach using technology, analytics and data for instant decision-making strategies.
Precise ID can provide real-time identity verification and targeted fraud scores and signals, including first-party fraud, identity theft and synthetic identity.
“We’re dedicated to providing our clients with the most innovative, data-driven insights in order to protect legitimate customers while also combating fraud,” said Kathleen Peters, chief innovation officer for Experian Decision Analytics in North America.
“With AI-enabled bot attacks on the rise, NeuroID’s unique behavioral analytics combined with our trusted fraud prevention solutions can help clients make informed, automated decisions during the account opening process, ultimately helping mitigate losses,” Peters continued.
NeuroID CEO Jack Alton added, “In today’s rapidly evolving fraud landscape, we’re proud to provide a solution that not only fortifies defenses against sophisticated fraud threats but also prioritizes genuine users’ experience.
“By interpreting the subtle nuances in real-time user behavior, we proactively identify and thwart malicious actors while ensuring seamless interactions for legitimate customers. It’s a game-changer for businesses seeking both robust security and customer satisfaction,” Alton went on to say.
To learn more about Experian’s fraud prevention solutions, visit https://www.experian.com/business/solutions/fraud-management.